I remember exactly where I was when the gravity of the situation hit me. I had heard that something happened in the financial world, but I was young— with few stakes in the game. It didn’t affect me at first. Then I started overhearing the stories.
I was on a bus and a group of men nearing retirement age were discussing it. The crash hit them hard. Investments that they had been planning their future on had dropped in value nearly overnight. The future they had envisioned no longer seemed feasible. It was a disaster.
The year was 2008 and we were living through what has become known as the greatest financial crisis since the Great Depression.
Things looked bleak and the future was entirely uncertain.
That crash may have been the largest in quite a few years, but it’s not the only drop the market has had. In fact it’s just one of many. Stock prices rise and fall on a daily basis. It’s why short term gains are difficult in the stock market. Some people play that game, but only a few win. The market is too unpredictable.
But there’s another story that the stock market tells— the longer view story.
No matter the rise and falls, over time there will be gains if you stay the course.